Report
Clement Genelot

HelloFresh: FY 2025 guidance reveals a worrying trend for meal-kit

FY 2024 and FY 2025 guidance again proved to be mixed with disappointing growth (guidance >8pts below expectations, driven by both meal-kit and ready-to-eat) and outperforming EBITDA (guidance 4% above expectations). We are facing the egg and chicken conundrum with HelloFresh regarding its meal-
Underlying
HelloFresh SE

HelloFresh is engaged in the delivery of meal kits to customers in the U.S., the United Kingdom, Germany, the Netherlands, Belgium, Luxembourg, Australia, Austria, Switzerland and Canada. Co. provides portioned food and recipes, which its subscribers receive in weekly boxes. Co. provides both omnivore and vegetarian options, with fresh ingredients and chef-inspired recipes.

Provider
Bryan Garnier
Bryan Garnier

Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.

Analysts
Clement Genelot

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